Disclosure Basics

If you were sued on a debt and lost your case, your next step may be 'disclosure.’' This is a process the person or company you owe the debt to can use to get information about your income and assets. They can do this to figure out how to collect the debt you owe them.

The person or company you owe the debt to is called a ‘creditor.’ Sometimes the creditor must take you to court to find out what property and income you have. This is called a disclosure hearing. At the end of the disclosure hearing, the judge will decide whether you have anything the law allows the creditor to take. The judge will also decide how much your payments on the debt should be, and when you need to make those payments.

A good place to start is by watching this video that explains some of the most important things to know about the disclosure process. We have more detailed information about this in this guide, but the video covers the basics.